The agreement also includes cash payments to all groups of buyers; owners of 3.0-liter vehicles who opt to have them repaired will receive between $7,000 and $16,000, while owners who choose to sell back their vehicles will receive $7,500 on top of the trade-in value. This means all owners will receive some cash compensation, though for some it will hinge on timing and the approval of a technical fix for Generation 2 vehicles.

As VW stated earlier, Generation 1 vehicles include the VW Touareg and Audi Q7 from the 2009-12 model years, while Generation 2 vehicles include the same models from 2013-16 model years, in addition to the Audi A6, A7, A8, A8L and Q5 from the 2014-16 model years, as well as the 2013-16 Porsche Cayenne Diesel.

Volkswagen has reached a deal with U.S. regulators to repair or buy back a total of 83,000 vehicles from the VW, Audi and Porsche brands equipped with the 3.0-liter V6 TDI engine. The deal comes four ...

One moving part in this settlement is the technical fix itself; if VW will not be able to "obtain a timely approved Emissions Compliant Repair" for the Gen 2 vehicles, it will offer to buy them back or offer a trade-in credit of equal value. VW may also put forth a different modification to reduce those vehicles' NOx emissions, if approved.

"With the court-approved 2.0L TDI program well under way and now this proposed 3.0L TDI program, all of our customers with affected vehicles in the United States will have a resolution available to them," said Hinrich J. Woebcken, president and CEO of Volkswagen Group of America Inc. "We will continue to work to earn back the trust of all our stakeholders and thank our customers and dealers for their continued patience as this process moves forward."

Prosecutors in Germany have indicated former VW CEO Martin Winterkorn could have known about the diesel emissions-cheating efforts earlier than he told investigators, Automotive News Europe ...

News of the settlement should offer some relief to owners of 3.0-liter TDI diesels who have been in limbo since November 2015 when the EPA filed a Notice of Violation for a mix of Audi, VW and Porsche models. While VW has laid out plans to compensate owners in any eventuality, it remains to be seen whether it will be able to create a technical solution that will not affect the vehicles' performance. The automaker has yet to obtain approval for a fix for the smaller 2.0-liter diesels, with tens of thousands of owners who have opted to have them repaired awaiting it.